Analog Devices, Inc. (NASDAQ:ADI) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Analog Devices, Inc. (NASDAQ:ADI) have been given an average recommendation of “Moderate Buy” by the twenty-four analysts that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $243.23.

Several brokerages have recently issued reports on ADI. JPMorgan Chase & Co. raised their price target on Analog Devices from $220.00 to $260.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Robert W. Baird lifted their target price on Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, May 24th. TD Cowen lifted their target price on Analog Devices from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Stifel Nicolaus lifted their target price on Analog Devices from $220.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Analog Devices in a research report on Thursday, May 23rd.

Analog Devices Price Performance

Shares of NASDAQ:ADI opened at $227.84 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.19. Analog Devices has a 1 year low of $154.99 and a 1 year high of $241.88. The business has a fifty day simple moving average of $217.68 and a 200 day simple moving average of $201.95. The firm has a market cap of $113.06 billion, a price-to-earnings ratio of 53.23, a P/E/G ratio of 3.89 and a beta of 1.12.

Analog Devices (NASDAQ:ADI) last posted its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company earned $2.83 earnings per share. The business’s revenue was down 33.8% compared to the same quarter last year. As a group, sell-side analysts predict that Analog Devices will post 6.24 earnings per share for the current fiscal year.

Analog Devices Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Tuesday, June 4th. Analog Devices’s payout ratio is 85.98%.

Insider Buying and Selling at Analog Devices

In other Analog Devices news, CEO Vincent Roche sold 10,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total transaction of $1,974,000.00. Following the completion of the sale, the chief executive officer now owns 51,039 shares in the company, valued at approximately $10,075,098.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Vincent Roche sold 10,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the completion of the transaction, the chief executive officer now owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vivek Jain sold 3,479 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $197.56, for a total transaction of $687,311.24. Following the completion of the transaction, the executive vice president now directly owns 5,745 shares of the company’s stock, valued at approximately $1,134,982.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,121 shares of company stock worth $10,875,654. Insiders own 0.31% of the company’s stock.

Hedge Funds Weigh In On Analog Devices

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADI. SRN Advisors LLC lifted its position in Analog Devices by 5.1% during the 1st quarter. SRN Advisors LLC now owns 4,925 shares of the semiconductor company’s stock worth $974,000 after buying an additional 240 shares in the last quarter. NBW Capital LLC raised its holdings in shares of Analog Devices by 5.6% in the 1st quarter. NBW Capital LLC now owns 46,392 shares of the semiconductor company’s stock valued at $9,176,000 after purchasing an additional 2,461 shares during the period. Cypress Asset Management Inc. TX raised its holdings in shares of Analog Devices by 6.0% in the 1st quarter. Cypress Asset Management Inc. TX now owns 32,833 shares of the semiconductor company’s stock valued at $6,572,000 after purchasing an additional 1,869 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in shares of Analog Devices by 2.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,006,430 shares of the semiconductor company’s stock valued at $193,783,000 after purchasing an additional 21,831 shares during the period. Finally, Cambridge Trust Co. raised its holdings in shares of Analog Devices by 30.1% in the 1st quarter. Cambridge Trust Co. now owns 50,771 shares of the semiconductor company’s stock valued at $10,042,000 after purchasing an additional 11,743 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.